Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following information were extracted from the books of Madam Cecilia Ventures for the month of September 2022 September 1: Balance brought forward: Cash 32,000;
The following information were extracted from the books of Madam Cecilia Ventures for the month of September 2022 September 1: Balance brought forward: Cash 32,000; Bank 110,000 4: Hassan, Ken and Akufo paid the venture by cheque and in each case deducting a 5% cash discount. The amount paid were 16,000 , N10,000 and N19,000 respectively 5: Paid insurance $6,000, rent and rate 1,000 and electricity 5,000 by cheque 8: Cash sales 45,000 deducting 10% discount 11: Sales by cheque 33,000 15: Paid salaries 220,000 in cash 18: Bought furniture for N50,000 by cheque 20: Bought goods worth 24,000 from Friday and paid NN20,000 cash in full settlement 21: Withdrew cash from the bank for business use N37,000 22: Eze bought goods worth 34,400 and paid $32,000 by cheque in full settlement 25: Paid John $11,000 by cheque less 20% discount and Adijat 6,000 by cheque 28: Bought motor vehicle by cheque N50,000 29: Cash sales and purchases of N30,500 and N35,000 were made respectively You are required to prepare a Three Column Cash Book for the month of September, 2022 NB: Do not open corresponding entries
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started